EP080 Buying the Note and Taking Control of a Property for Pennies on the Dollar with Gene Chandler

Listeners to this show know that I'm a big fan of house hacking as a great way to get into real estate investing.  Many of our guests have begun their investment career by purchasing a multifamily property and living in one of the units while letting the rent income from the other unit(s) pay for their mortgage and expenses.  In fact, I believe house hacking is one of the most sensible and lucrative ways to build a real estate portfolio, and have spoken with many guests who have proven this to be so. Apparently, Financial Advice Guru Dave Ramsey does not agree. In a recent advice column, Dave seems to advise one of his readers against purchasing a three unit and living in one side, while letting the income from the other two units pay for his mortgage and expenses. http://www.daveramsey.com/davesays/column/column/dave_Says_2016-11-07 Dave goes on to suggest the reader would be better off purchasing a nice, single-family home instead. Does Dave's advice really make sense?  In order to answer this question, I've invited several of my past guests into the studio to debate the pro's & con's of his answer. Justin Workman (Episode 3) and Rob Minch (Episode 9) help me get to the bottom of Dave Ramsey's House Hacking advice, and the result is not what you would expect.

2 Tammi 201749min

In today's tight and competitive Real Estate Market how do you find those hidden gems, and can you still profit from foreclosures? Tony Youngs will address those questions and more.  During our conversation today, Tony shares his 30 years of experience, systems, and strategies in acquiring foreclosures and hidden market properties. Tony also discusses wholesaling, rehabbing, and the mistakes he's made along the way. I know you'll enjoy listening to Tony's techniques, and I also encourage you to come hear Tony speak live at Michigan's Largest FREE Real Estate Investor & Landlord Conference & Expo which is happening February 23-25, 2017 at the DeVos Place in Downtown Grand Rapids, Michigan. If you plan on getting serious about real estate investing and rental property ownership in 2017, this is the 'can't miss' event of the year. For more information & your free registration go to: https://rpoaonline.org/

26 Joulu 201634min

Two-Thirds of the way through my conversation today, Nick Watkins drops a huge bombshell: He's managed to generate as much money in rental profits as he makes in his full-time job - and he's done it with only two duplexes and three single-family properties! Nick takes me step-by-step through his process, how his desire to help others solve their problems led him to purchase rental property, how he's used creative financing to help him achieve 'infinite returns', and how he's learned to manage his properties and his tenants. Nick also shares stories about the tenant who threatened him and his family, the subsequent eviction, and the consequences of not doing thorough background checks and tenant screening. Nick & I also discuss the pro's & con's of hiring a professional third party management company, and whether or not the additional expenses are justified. Nick shares a lot of great information, stories and tips.  You can contact him through email at NickWatkinsHouses@yahoo.com I know you'll enjoy today's conversation.  Please take a moment to subscribe, rate & review on itunes.

19 Joulu 201657min

John Potter has built an investment career on buying, rehabbing and leasing historic homes in Grand Rapids, Michigan.  Sometimes while working on these homes he's discovered treasures left behind by the former occupants.  John has also discovered something surprising and unexpected about his childhood home that helps explain why he's so passionate about these historic homes. John & I discuss his passion for homes that are more than 100 years old, what makes them better than the homes built today, and John's strategies to keep them filled with the best tenants. John is also the owner of Tanglewood Properties and a realtor with Pro Real Estate Services.  You can contact John through his website: http://www.tanglewoodproperties.com/mission/ I know you'll enjoy today's conversation.  Please take a moment to go to itunes to subscribe, rate & review!

12 Joulu 201655min

Seven years ago Justin Herrema was in a bad snowmobiling accident that made him question everything about his real estate investing business model.  This questioning led him to become the founder & CEO of Land Contract Realty and Land Contract Notes. Today Justin shares his over 10 years of Real Estate Investing experience with us, and how he acquires a property, rehabs it, and then sells it on land contract to buyers who aren't able to acquire traditional bank financing.  Justin then takes it a step further by selling the note to a private investor or hedge fund. There's a lot of great information packed into this conversation.  Justin talks about buying from banks & auctions, renovating, flipping, acquiring lines of credit, working with private investors and getting private money, as well as buying foreclosures from motivated sellers. You can contact Justin through his websites: http://landcontractrealty.com/ http://landcontractnotes.com/ I'd also encourage you to subscribe, rate & review this podcast on itunes.

5 Joulu 20161h 9min

What is it about Real Estate Investing that would cause a successful business owner in a completely different field to buy three 8-Units and a duplex and start his own Management Company? Today we'll find out during my conversation with Matt Martyn, the Co-Owner & Co-Founder of Cobertyn Group and Ahptic Film & Digital. Matt shares how he and his business partners acquired a duplex eight years ago and the difficulties they encountered in managing it while running a successful film production business.  Then Matt talks about their latest acquisitions, three 8-Units in the Lansing, Michigan area that they're currently rehabbing.  Matt and his partners have formed a new management company and we'll be discussing the start-up challenges they've encountered so far.  Matt & I also talk numbers and how they were able to acquire bank financing and negotiate their acquisition. You can find out more about Matt & his company by visiting http://www.cobertyn.com/ I'm sure you'll enjoy today's episode.  If you enjoy listening to this show, please do me a favor and go to itunes to SUBSCRIBE, RATE & REVIEW!

28 Marras 20161h 6min

Fifteen Years ago Tom Zeeb was broke and looking for a way to raise money quickly. Today he's going to share his Rapid Cash Generation system that allowed him to leave his job and pursue Real Estate full-time through Wholesaling, Flipping and Buy & Hold investing.  Tom is going to tell us how he Finds the Deal, Makes the Deal, & Gets Paid. Tom Zeeb is an active investor, President of Traction Real Estate Investors Association and Founder of Traction Real Estate Mentors, where he's helped hundreds of average people replace their income, quit their jobs, and turn full-time to real estate investing. I know you'll enjoy listening to Tom's techniques, and I also encourage you to come hear Tom speak live at Michigan's Largest FREE Real Estate Investor & Landlord Conference & Expo which is happening February 23-25, 2017 at the DeVos Place in Downtown Grand Rapids, Michigan. For more information & your free registration go to: https://rpoaonline.org/

21 Marras 201646min

Sometimes a simple conversation can create big changes.  Andy Wierda, my guest today, had that experience when he stopped to buy a beer at a convenience store.  What the woman behind the counter said to him has made a huge difference in his real estate investing career ever since. Andy is a local investor in Grand Rapids, Michigan and in our conversation today he shares many fun stories about owning and managing single family rentals, buying & flipping foreclosures, problematic tenants, evictions, and the hits & misses along the way. Andy's also talks about being a hard money lender, how to prevent tenants from ruining your credit, single family rental inspections, affordable housing, and dealing with insurance companies when tragedy strikes. I know you're going to enjoy today's conversation.  Be sure to go to itunes to subscribe, rate & review!

14 Marras 20161h 40min